Mortgage Rates BC

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bocrateVancouver Mortgage Rates – August 18th, 2010

I post the best mortgage rates in BC on a weekly basis or more frequently if the market is volatile.

I encourage you to enquire about rate changes. The lenders will typically have quick close rates to boost their month end numbers. Call 604-644-0826 for updates.

The Bank of Canada prime changed in the last rate update. Here are the latest mortgage rates for BC.

Bank of Canada Prime: .25%
Lender Prime rate: 2.75%

Best Lender Rates as of August 18th, 2010

CMHC High Ratio Qualifying Rate – 6.1%

6 month closed: 3.95%
1 Yr Closed: 2.99%
2 Yr. Closed: 2.95%
3 Yr. Closed: 2.90%
4 Yr. Closed: 3.79% Same
5 Yr. Closed: 3.84% Down Conditions Apply
7 Yr. Closed: 4.85%

Variable Rate Closed: Prime – .65%
Line of Credit: Prime + .90%

I also include links to the banks rate tables for your convenience. Regretably, the banks do not post their best rates…you still need to haggle. If you have the time for such things, here is a starting point.
Royal Bank 1, 2, 3, 4, 5 Year Fixed Rates and Variable Rates.
TD Canada Trust 1, 2, 3, 4, 5 Year Fixed Rates and Variable Rates.
CIBC 1, 2, 3, 4, 5 Year Fixed Rates and Variable Rates.
Bank of Montreal 1, 2, 3, 4, 5 Year Fixed Rates and Variable Rates.

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